Problema Solution
A jazz group on tour has been drawing average crowds of 400 people. It is projected that for every $1 increase in the $15 ticket price, the average attendance will decrease by 50. At what ticket price will nightly receipts be $4,500
Answer provided by our tutors
let 'x' represent the ticket price increase
4500 = (400 - 50x)(15+x)
solving for 'x' we have a positive value of x=3
15+8=18
at a ticket price of $18, the nightly receipts would be $4,500